Letting agents will soon have to publish full details of the fees they charge in a bid to ensure a fairer deal for both landlords and tenants.

The plans, which were recently announced by the Government, aim to prevent rogue agents imposing unreasonable, hidden charges – something that has unfortunately happened all too often in the past.

Current guidelines enforced by the Advertising Standards Authority only require letting agents to list compulsory charges to the tenant upfront in the process, while those who are found to have imposed hidden charges face little more than being “named and shamed” on the authority’s website.

But ministers now want to adopt a stricter stance and hand out tougher punishments to letting agents that flout the system.

The proposals will require all letting agents nationwide to publish a full tariff of their fees - both on their websites and prominently in their offices - so that there is greater transparency across the board.

Business Minister Jenny Willott claims such transparency would mean agents would have to justify their fees properly for the first time.

She believes that forcing them to publish full details of the fees they charge would create a fairer deal for all the parties involved.

Anyone who does not comply with the new rules will face a fine – a much stricter penalty than the mere slap on the wrists that currently exists.

The plans are part of a package of measures to offer stronger protections for landlords and tenants in the private rented sector.

Also in the pipeline is a new code to set standards for the management of property in the private rented sector, with a view to making it statutory, as well as a new “how to rent” guide to help tenants better understand what they should expect from their rental deal.

The introduction of a voluntary, model tenancy agreement for longer tenancies is in the offing as well, something which would provide extra security and stability for families, as is extra guidance for local councils on tackling rogue landlords and protecting tenants from illegal evictions.

Veronica Carnegy, Head of Tenancy Services and Property Management at Strutt & Parker, said: “It has been our policy for the last 18 months to ensure completely transparency with tenant charges and fees as well as clarifying the process involved in taking a tenancy through Strutt & Parker.

"We have drawn up a small booklet called “Information for Tenants” which clearly outlines the steps which will be taken before the start of the tenancy and all associated costs.

"For both parties this ensures that the start of tenancy process runs as smoothly as possible and all expectations are managed form the beginning. With central London tenancies it is standard practice for all landlords and tenants to mutually agree a tenancy length which can be anything from 3 months to 3 years.

"As a general rule of thumb most tenancies will be for 12 months and depending on the tenants situation the fixed term will either be extended, or they will be offered guaranteed “Options to Renew”.

"However, many of our central London clients are investment landlords and therefore the secured longer tenancies are preferred. With the owner occupier landlord it is not so easy to offer such long secured tenancies as their personnel and financial situations may result in them having to move back into the properties.”